Community Mortgage Brokers is joining the mortgage platform UMortgage.
The Springfield, MO, brokerage will operate under the name UMortgage Springfield and act as a branch of the company.
It will benefit from UMortgage’s platform in return, expanding its offerings across its Missouri and Colorado offices while providing faster access to more affordable mortgages.
“We’re thrilled about the opportunities that we’ll be able to offer our clients with this partnership with UMortgage,” said Andrew Chavez, UMortgage Springfield Branch Manager.
“The UMortgage platform will empower us to offer more competitive rates, a wider range of loan products, and faster turn times to help give our clients more buying power and get into their homes quicker. These advantages not only make the homebuying process more affordable but also more convenient and efficient for clients.”
The branch is licensed in 18 states and, in 2023, funded more than $100 million in volume.
UMortgage offers wholesale products and rates to loan originators through its platform.
It has geared towards growth since the end of 2022 and brought on NXT Mortgage and MC Mortgage. In March 2023, Ravi Patel, a top 1% LO and former SVP at Guaranteed Rate, joined the platform.
The company says it has seen growth every year since its founding in 2020. 2023 bought a 116% YOY funded volume increase.
“Winners in this industry want to join our platform because we’re identifying the acute pain points of loan originators of different backgrounds—whether that be a retail shop or their own brokerage—and providing value-based solutions,” President and CEO Anthony Casa said of the platform’s growth.
At the same time, UMortgage remains embroiled in a lawsuit with Motto Mortgage, accused of poaching a top-performing franchisee. Motto claims that Anthony Casa was aware that bringing the team in would result in a breach of contract but did so anyway.